IMF approves emergency financing for Sri Lanka after Cyclone Ditwah
Summary
The IMF has approved a $206 million emergency loan to support Sri Lanka's recovery and reconstruction efforts following Cyclone Ditwah, aiming to stabilize the economy amid urgent humanitarian and fiscal challenges.
Key Points
- The IMF approved $206 million in emergency financing for Sri Lanka following Cyclone Ditwah.
- The financing is provided under the Rapid Financing Instrument, amounting to 26% of Sri Lanka's IMF quota.
- The support aims to preserve macroeconomic stability and address immediate economic fallout from the cyclone.
- IMF officials praised Sri Lanka's swift government response and pledged ongoing support for recovery efforts.
